Announcing the 2016 FinTech Australia Census

This Census is the first of its kind – a National, in-depth survey of FinTech Startups, examining FinTech-specific challenges such as licensing, bank partnerships and effectiveness of FinTech-specific Government initiatives.

The aim of this significant piece of research is to:

Understand the size, composition, and maturity of the Australian FinTech landscape (including by geography);

Understand key challenges and blockers that FinTech Companies based in Australia are facing; and

Identify areas where further policy development or investment might be needed to help the Australian FinTech Ecosystem thrive and grow.

The importance of this research to policy makers cannot be emphasised enough. The freshly re-elected Government faces a new, more diverse political landscape. The need for investment into economic development has never been greater, likewise the desire for accountability on expenditure.

Meanwhile, the global race for FinTech dominance is accelerating; in February 2016 a landmark report by EY UK ranked Australia equal 5th with Germany (out of 7 selected FinTech markets) behind the United Kingdom, New York, California and Singapore, and only marginally ahead of Hong Kong. With strong investment and a huge amount of resources being put behind Singapore’s push to become the leading FinTech hub in Asia, Australia’s FinTech Ecosystem is at risk of dropping further behind its peers.

That is why FinTech Australia and EY Sweeney are collaborating to give Australian FinTech Startups a strong voice in the policy debate through this research. It is you, the great Entrepreneurs who are pushing the envelope and rising above challenges to drive the Ecosystem forward every day, who know where the barriers are and how they might best be overcome. Your contribution also ensures that our limited resources are always being channeled most effectively to the places where they will make the greatest impact.

Moreover, we’re committed to repeating this Census each year so we can measure the growth of the industry, and create accountability for FinTech Australia’s work and the Government’s efforts.

If you run a FinTech Startup, please do take the time to complete this survey. It should only take 15 minutes if you know your business well.

If you know someone else who runs a FinTech Startup, please also forward them the link below so we can comprehensively size and understand Australia’s FinTech Industry.

Thank you all for participating – we will be sharing the results widely on a national and international level from September, so make your opinion count.

Cheers,
Danielle Szetho
CEO, FinTech Australia

Some FAQs

Can I stop mid-way and come back later?
If using the link above, you will need to complete it in one sitting. (FinTech Australia members have been emailed personalised links that enable them to continue where they left off.)

Some of the questions are very sensitive. Will answers be linked back to me or my Startup, or will my details be used for Business Development purposes?
No, on both counts. The survey is completely confidential and anonymous, with information de-identified and aggregated for analysis and the final report. Neither EY, EY Sweeney or FinTech Australia (or its members) will be able to use or access the data for anything other than the production of the report.

We do ask you for your Startup’s name, but this is only so we can remove any duplicate responses i.e. if you and your co-founder accidentally both fill out the survey. Once the de-duplication is done, all answers are then completely anonymised.

Should you wish to have your Startup listed as a contributor in the final report (which will be distributed globally) there is a means to do so at the end of the survey – but that won’t be linked with your information. Your answers will still remain confidential no matter what.

How does the FinTech Australia Census relate to Startup Muster?Startup Muster is the biggest survey of the Australian Startup Ecosystem across all types of Startups; the FinTech Australia Census is just for the FinTech industry. Startup Muster goes into broad Startup concerns, whereas we go deeply into FinTech-specific concerns.

Danielle and Monica, Startup Muster’s CEO, met before Startup Muster’s launch to try and see if we could collaborate. Given timing it wasn’t quite possible this year, but we’re keen to work together, and FinTech Australia has deliberately kept some questions consistent across both surveys so we might do some comparative benchmarking of FinTech vs the broader Australian Startup Industry.

We are huge supporters of Startup Muster – they do fantastic work, and we absolutely encourage you to do both.